Garuda Construction And Engineering Limited · NSE:GARUDA
Garuda Construction And Engineering — H1 FY26 Earnings Presentation
41 slides from Garuda Construction And Engineering's earnings presentation, Oct 28, 2025
Slide 1: Exchange filing cover letter
Date: October 28, 2025 To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejebhoy Towers “Exchange Plaza” Dalal Street Bandra-Kurla Complex, Bandra (East) Mumbai - 400 001 Mumbai - 400051 Scrip Code (BSE): 544271 Symbol: GARUDA Subject: Investor Presentation – Q2/H1 FY25-26 Dear Sir/
Slide 2: Garuda Construction and Engineering Ltd - Investor Presentation October 2025
GARUDA CONSTRUCTION AND ENGINEERING LTD 1 Investor Presentation - October 2025
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Garuda Construction and Engineering Ltd (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscrib
Slide 4: Business Overview
Business Overview \i 1 i i |
Slide 5: GCEL at a Glance
GCEL at a Glance 3,461 Crs* Asset - Light Business Strong Orderbook Model 26 Diversified Orderbook Completed Orders 16 Strong Execution Ongoing Project Capabilities 241.6 Crs Experienced Promoters Revenue of H1FY26 55.1 Crs Debt Free PAT of H1FY26 *As on 27th October 2025 Investor Presentation – Q2F
Slide 6: GCEL - Built to Last
GCEL - Built to Last • Incorporated in 2010, Garuda Construction and Engineering Limited is a fast-growing civil construction Company with over 14 years of execution experience. • The Company provides end-to-end EPC solutions covering design, engineering, construction, MEP, finishing, and O&M servic
Slide 7: The Promoters' Vision: Building with Passion, Designing with Purpose
The Promoters’ Vision: Building with Passion, Designing with Purpose Focus on Building construction (commercial, residential, industrial & institutional) Leverage our position as a fast- growing construction Company in India Strengthen our project execution capabilities – Aligned with the latest Tec
Slide 8: Our Journey: 14 Years of Passion and Progress
Our Journey: 14 Years of Passion and Progress 2010 2025 2014 2024 2016 2020 2021 2022 Engaged in Received a Letter 7 residential of Intent from projects, Gorakhpur 2 commercial Incorporation of Completed the Entered into a Development projects, our Company as civil Construction and Commenced the Aut
Slide 9: Our Areas of Expertise
Our Areas of Expertise Civil Construction Mechanical, Electrical Operation & & Plumbing (MEP) Maintenance • Garuda undertakes complete • Delivers integrated MEP • Offers post-construction civil construction projects solutions as part of operations and maintenance across various sectors construction
Slide 10: Our Geographical Reach
Our Geographical Reach State-Wise Revenue Bifurcation in FY25 (In Crs) Punjab 116 Arunachal Rajasthan New Delhi Pradesh 54 49 5 Maharashtra Uttar Pradesh Delhi Arunachal Maharashtra Pradesh Karnataka Foraying into new geographical markets with ongoing projects across Arunachal Pradesh, Punjab, Tamil
Slide 11: Project Execution Cycle
Project Execution Cycle Construction Pre-Construction • Regular planning meetings to • Submit project documentation for allocate responsibilities and monitor client approval progress. • Conduct site surveys and • Obtain permits, conduct soil & Execution Stage engineering design environment tests, an
Slide 12: Our Management
Our Management Pravin Kumar Brijendra Kumar Rohit Ramanand Pareek Agarwal Whole Time Director & CFO Associated with the Company since 2010, Chairman & Managing Director he brings over two decades of experience across construction • Associated & development, with the Company since 2010 • Associated w
Slide 13: Completed Projects
Completed Projects Demonstrated capability in handling large- scale, varied projects across multiple states Residential Commercial 42% 58% Successfully completed projects with 19 in the private 26 sector Completed Projects 27% Projects belong to the private sector, demonstrating 73% strong credibili
Slide 14: Completed Projects
Completed Projects Golden Chariot Hotel and Golden Chariot, the Boutique Construction of Delhi Police The municipal corporation of Spa, Vasai Hotel at Andheri Headquarters Delhi toll collector Juvana resort and spa, Rivali Park, Kandivali, Finishing works of NHAI Sangam Veda at Andheri Aamby valley
Slide 15: Landmark Projects
Landmark Projects State-of-the-art International Convention Centre At Gorakhpur Largest order by Gorakhpur development authority valued at Rs.1,087.34 crores. The Company anticipates completing The Company has already secured The Company’s order book has the project within the next 30 approvals (inc
Slide 16: Landmark Projects
Landmark Projects Delhi Police Headquarters Order from the Government of Delhi valued at Rs.448 crores. The Company has completed this Landmark project having 17 storey One-of-its-kind Iconic Police project within scheduled period as per twin towers, complete glass Headquarters equipped with all EPC
Slide 17: On-going Projects
On-going Projects *In Rs. crores Time for Outstanding Date Project Name State Total Value Completion Orderbook Eternal Building Assets Private Limited (O&M Oct 2019 - 13.5 years 111 72 Contract) 30 months from May 2021 Halaipani Hydro Project SPV- bot Mumbai 106.5 102 start 24 months Feb 2022 Garuda
Slide 18: On-going Projects
On-going Projects *In Rs. crores Time for Outstanding Date Project Name State Total Value Completion Orderbook 18 months from Nov 2024 NCC Ltd Mumbai 60 29 date of handover 30 months from Dec 2024 Bangalore Hotel Construction Bangalore 30 30 date of handover Dec 2024 Makindian Township - Amritsar Tu
Slide 19: On-going Projects
On-going Projects Agro Processing Cluster Raptinagar Township & Sports Garuda Shatrunjay at Options World, (Food Park as approved by City Development Borivali West, Mumbai Santacruz, Mumbai. MoFPI) - Jalore State of art convention centre, Makindian Township, Sumer life casa, +Art, Lower Parel, Gorak
Slide 20: Public Private Partnership
Public Private Partnership A strategic hybrid model with active engagement in both private and public sector projects Industrial Cluster Institutional Projects Government Projects Commercial Projects Residential Projects Construction of Development of buildings across private residential diverse sec
Slide 21: Strategic Overview
Strategic Overview
Slide 22: Our Edge
Our Edge Experienced Leadership & Management Team Strong Project Management & Execution • Promoter & CMD with 20+ years’ business experience • Timely project delivery with high construction quality • Leadership with expertise in construction, hospitality, • Asset-light model leveraging third-party e
Slide 23: Our Strategies
Our Strategies Thrust into Construction & Development Focus on “Lock-and-Key” Projects Commitment to Timely Completion • Expanding presence from civil construction • Offering end-to-end services: foundation → • Strong emphasis on on-time delivery & quality into development projects MEP → finishing →
Slide 24: Industry Overview
Industry Overview
Slide 25: Construction Industry Overview
Construction Industry Overview • The construction sector is the second-largest contributor to India’s economy after agriculture, accounting for 8.4% of the national Gross Value Added (GVA) at constant prices in FY23. Aspect Details • The sector’s growth is directly linked to capital expenditure in t
Slide 26: Government Push Powering India's Construction Boom
Government Push Powering India’s Construction Boom Government Initiatives Fueling Growth in India’s Construction Sector: 12.1%+ CAGR Growth 100% Foreign The India Construction Market size was • High-Speed Rail and Metro Projects: Continued development of high-speed rail Investment corridors such as
Slide 27: Q2 & H1 FY26 Highlights
Q2 & H1 FY26 Highlights
Slide 28: Q2 & H1 FY26 Financial Highlights
Q2 & H1 FY26 Financial Highlights Revenue (INR Crores) EBITDA (INR Crores) PAT (INR Crores) 149.2% 156.5% 164.7% 27.1 Margin Profile 116.5 34.4 Q2 FY26 EBITDA PAT 46.8 29.5% 23.3% 13.4 10.2 +80 bps +140 bps Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 Revenue (INR Crores) EBITDA (INR Crores) PAT
Slide 29: Management Commentary
Management Commentary We are now in the era of execution. With a strong order book of around ₹3,461* crore, Garuda Construction continues to build on its momentum. During the quarter, we added fresh orders worth nearly ₹353 crore, reflecting our ability to secure quality projects despite a challengi
Slide 30: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. In Crore) Q2 FY26 Q2 FY25 Y-o-Y Q1 FY26 Q-o-Q H1 FY26 H1 FY25 Y-o-Y Revenue from Operations 116.5 46.8 149.2% 125.2 -6.9% 241.6 81.9 195.1% Cost of Raw Materials Consumed 33.3 3.7 23.0 56.3 5.5 Construction Costs 43.2 24.7 60.1 103.3 45.0 Employe
Slide 31: Consolidated Balance Sheet
Consolidated Balance Sheet Assets(Rs. In Crore) Mar-25 Sept-25 Equity & Liabilities(Rs. In Crore) Mar-25 Sept-25 Non ‐ Current Assets (a) Equity share capital 46.5 46.5 (b) Other equity 285.3 340.4 (a) Property, plant and equipment 1.9 1.7 Equity Attributable to Owners of the Company 331.8 386.9 (b)
Slide 32: Consolidated Cashflow Statements
Consolidated Cashflow Statements Particulars (Rs. In Crore) Mar-25 Sept-25 Cash Flow from Operating Activities Profit before Tax 66.8 73.7 Adjustment for Non-Operating Items -0.3 -2.8 Operating Profit before Working Capital Changes 66.5 70.8 Changes in Working Capital -160.3 -63.6 Cash Generated/Use
Slide 33: Historical Financial Overview
Historical Financial Overview
Slide 34: Historical Revenue Bifurcation
Historical Revenue Bifurcation Category wise Revenue Contribution 1% 1% 5% 7% 10% 18% 34% 22% FY23 FY24 FY25 H1 FY26 52% 60% 30% 70% 90% Commercial Residential Industrial & Infrastructure Services Sector wise Revenue Contribution 17% 32% 45% 48% FY23 FY24 FY25 55% H1 FY26 52% 68% 83% Government Priv
Slide 35: Historical Financial Performance
Historical Financial Performance Rs. In Crores Revenue from Operations EBITDA PAT 84.39% 251.97% YOY YOY 70.8 55.1 241.6 66.5 49.8 225.7 55.7 40.8 49.8 36.4 160.7 154.2 26.4% 25.3% 22.3% 21.7% FY23 FY24 FY25 H1 FY26 FY23 FY24 FY25 H1 FY26 FY23 FY24 FY25 H1 FY26 EBITDA Margins PAT Margins Net Worth 8
Slide 36: Consolidated Historical Profit & Loss Statement
Consolidated Historical Profit & Loss Statement Particulars (Rs. In Crore) FY23 FY24 FY25 H1 FY26 Revenue from Operations 160.7 154.2 225.7 241.6 Cost of Raw Materials Consumed 11.5 9.4 42.8 56.3 Construction Costs 89.3 85.0 96.9 103.3 Employee Expenses 1.6 2.8 3.9 2.3 Other Expenses 2.6 7.6 15.6 9.
Slide 37: Consolidated Historical Balance Sheet
Consolidated Historical Balance Sheet Assets(Rs. In Crore) Mar-23 Mar-24 Mar-25 Sept-25 Equity & Liabilities(Rs. In Crore) Mar-23 Mar-24 Mar-25 Sept-25 Non ‐ Current Assets (a) Equity share capital 12.5 37.4 46.5 46.5 (a) Property, plant and (b) Other equity 70.2 81.6 285.3 340.4 1.9 1.6 1.9 1.7 Equ
Slide 38: Consolidated Historical Cashflow Statements
Consolidated Historical Cashflow Statements Particulars (Rs. In Crore) Mar-23 Mar-24 Mar-25 Sept-25 Cash Flow from Operating Activities Profit before Tax 55.1 49.6 66.8 73.7 Adjustment for Non-Operating Items 0.6 0.1 -0.3 -2.8 Operating Profit before Working Capital Changes 55.7 49.8 66.5 70.8 Chang
Slide 39: Future Outlook
Future Outlook
Slide 40: Investment Rationale
Investment Rationale Enhanced Capabilities for High-Value Projects: Over time, GCEL has significantly enhanced its execution capabilities both in handling larger project sizes and executing multiple projects simultaneously, making us eligible to bid for higher-value contracts. Growth Powered by Pass
Slide 41: Thank You
THANK YOU Company Investor Relations Partner Investor Presentation – Q2FY26 40 Garuda Construction & Engineering Limited X-B4 Advisory LLP CIN: L45400MH2010PLC207963 Rasika Sawant Tel: 022-35722456 / 022-79635174 Tel: +91 95944 57518 Email ID: info@garudaconstructionengineering.com Email ID: rasika@
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